TORONTO--(BUSINESS WIRE)--CLEARLY CANADIAN (OTCBB: CCBEF - News) (the “Company”) announced today that it has suspended interest payments on its senior convertible notes in the amount of $9.36 million USD and its subordinated convertible notes in the amount of CDN $2.45 million. The Company has received an Event of Default notice from one of the senior convertible note holders and the Company intends to enter into negotiations with all of its note holders to restructure the debt.
About Clearly Canadian
Based in Toronto, Clearly Canadian Brands markets premium alternative beverages, including Clearly Canadian® sparkling flavoured waters which are distributed in the United States, Canada and various other countries. Clearly Canadian’s acquisition of DMR Food Corporation and My Organic Baby Inc. marks the Company’s debut into organic and natural products with a full line of organic baby and toddler foods under the brand names My Organic Baby and My Organic Toddler and a wide range of dried fruit and nut snacks offerings from SunRidge Farms, Naturalife, Sweet Selections, Simply by Nature and Glengrove Organics brands. To find out more about Clearly Canadian Beverage Corp. (OTCBB: CCBEF - News), visit our website at www.clearly.ca.
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